please don't take me that seriously

my name does not end Hearn

thank you for letting me think out loud
I highly value the community at large

BTW the RSI bounced above 30
price should stabilize now the tree is shaken
if BTC had failed as much as Mt long winded Hearn suggests we would be below RSI 20 and chasing $100 range

no worries
next

I am simply thinking out loud because there are usually repercussions in other markets for this level of stupidity.

I fully understand the "limitations" of btc and it's still a maturing product.
That is wholy different that publicly dumping your coins and calling a product dead.

Bit coin may not be everything to everyone but it is still a legitimate portal of fiscal security. It was never created to be all things for all people eternally.

But yes I do see big investors like overstock.Com having a serious problem with their portfolio being manipulated by disgruntled influences acting with malice for personal reasons.

Bit coin is no more dead right now than it wasn't a few days ago.
So his statement is completely false and fully influential to the tune of hundreds of millions.

But no one would know he sold.
It's not like Bitcoin has private shareholders and 10q reports.

So now that the world does know, how much did he donate to the bid, what repercussions did that have on the short Really how stupid can one be to not consider those items and pile on with a negative public statement.

Even disgruntled programmers are not that oblivious.
Harmful intent could absolutely be argued in court. It was a  rash and selfish move, nothing more. My only hope is that other heavily invested programmers understand legal action could follow if you decide to act in a manner that results in hundreds of millions dollars, euro etc etc of loss. This wasn't even a legitimate problem for crying out loud.

Considering the brevity of Mr Hearn heavy handed, disgruntled slanderous public opinion I do wonder if any lawsuits will follow.

I personally could care less. My Satoshi are my Satoshi regardless of current prices. And more importantly my Satoshi are in no way tied to any if the world's problems and liabilities.

But fundamentally speaking anyone publicly dumping 100% of a world platform security followed by slandering, which resulted in a 20-30% market cap drop (as of this minute) usually gets the attention of regulators.

And that's without consideration towards other powers or interests losing patience.

Rule #1 don't mess with other people's money.
In Mr Hearn case that would be, you were better off shutting your big mouth because it likely comes at a price selfish people are never willing to pay.

Emdebted to regret in the least.

I disagree that halving will lower the valuation.
Simply put less is more when valuing things,  but I see more than just that.

Miners are no longer the only part of this equation. With intercommunication or exchange between distribution platforms and commerce portals opening left and right the world around, BTC can do nothing but continue to gain valuation as long as big government and Central banks remain away.

There's a big difference between currency wars and currency bans.

Exciting times indeed but not enough reason to stop accumulating IMHO.

I fully respect opposing opinion. Its actually good all around.

All I would ask is to consider BTC as a small body sharing the solar system with ginormous Bodies.

There is movement outside our ecosystem worth noting.
Things will affect BTC price upward and that's not considering maturing commerce or retirement level funds.

I did not stat 3-5k in any time period. 3-5k is a simple range for a more realistic Market cap.
And a more realistic market cap with commerce and retirement fund interest is frankly scary.

No predictions time wise but things going on with death petrol dollar, emerging market bond debt dominos, ridiculous overvalued USD, etc etc are peaking. Whenever things get ugly I feel bad for anyone not holding bullion and crypto.

So true, we just don't know what hammers can get dropped by today's governments.
If you asked people 20yrs ago if they could imagine a reality where DC steals our civil liberties overnight and most don't know or care, they would be impeaching leaders.

If you ask anyone today can they imagine bitcoin made illegal overnight they just might think your nuts.

I hope not.
Its simply a kick ass product.
But its also a threat to the elite of elite.
Personally I expect new lows to go with new highs.

The powers that be know well how to shake the tree.

[/quote]

Nice one. Doubt you'll ever regret it. Crypto is not going to go away now, genie is out the bottle.

I'm a big fan of the jackass, dont remember if he ever talked about bitcoin though.
[/quote]

Thanks for the kudos. Its funny a close friend was getting very annoyed with me earlier over these talking points. People just love the matrix, period.

Honestly I do wonder if Willie is being totally honest about not knowing bitcoin.
The man has depth of knowledge unknown to most. So to not know much about crypto just seems imbalanced to me.
My own personal prediction today is Ethereum could be the backbone for his new Sh!t Dollar (crypto USD) prediction.
Fully controllable and being touted as a bitcoin improvement platform. Little do commoners understand its frankly a Microsoft, big bank, us government wet dream waiting to happen.

Reading over threads on this forum I've learned quite a bit about mining and the community in general.
But the reason I bought bitcoin has nothing to do with the former or the latter.

You see I'm one of a small percentage in the USA who reads/listens to news outside the USA. Most people I speak to have no clue what is happening in Europe, how the death of Petro-dollar is meaningful, ZIRP influenced stock market Bulls, overinflated housing valuations, trillions in student loan debt, Vehicle lending bubble, crashed Baltic dry index, emerging economy bond debts, low income per household,  oil hedge covering by the Fed and Treasury, COMEX price rigging, overvalued dollar, FATCA, TPP, on and on.

Pretty much I've sounded like a crazy person to most but that's OK.

Why am I writing this?
Well its because people seem to have a brain around here so if anyone wants to hear some very interesting info Jim Willie (goldenjackass.com) gives some animated, resourceful and so far accurate underground info regarding government level corruption and how it will crash the dollar which chases wealth into other Venue's like gold, silver, BTC.

You see BTC isn't going up just because its the nextgen of wealth.
It isn't just going up just because working BTC commerce and investment platforms have surfaced (yet to fully mature).
BTC is also going up because people like myself don't want to play Yosemite Sam guarding home based Bullion, nor do we wish to gamble with TSA screening for metals. Bitcoin is perfect for its time and the incoming wealth is just beginning.

Well done and enjoy the ride (don't sell).

Btw BTC market cap of 7billion is nothing in grand scheme.
With Commerce support maturing I'm seeing 3-5k per coin (or per 100,000,000 Satoshi).

If retirement wealth comes around we are talking above a market cap of 1trillion.
This is a worldwide platform, very private, and very secure.

Don't mine if you need to pay bills with BTC

Mine if you love tech and speculate that your positioning in the ledger will result in portfolio diversification and long term financial stability

In the end its your time and money so just try to enjoy the ride, absord the good and reject the bad (know it all's)

Being a noob myself I too noticed pretty frequent transactions last night between 100-300k USD, but wasn't sure how normal that is

Impressive none the less and goes to show thecmomentum is just beginning with BTC, allowing human beings to un-bank for the 1st time in a very long time but still operate normally (not live in the woods)

Looking forward to put more serious moneys into BTC soon
$460 a coin may seem like a lot but really the current market cap is still quite relatively low

Real world responses
Great value

I will get heavy on alt coin after I decide to finalize my s7 pair order or wait til the 16nm sets come out
But not waiting very long

Appreciated!

Considering the processing power requirements for current ASIC I will state USB  miners are toys in comparison slanted more towards learning

dbl to trpl the current ASIC is said to not be far away so even with nextgen USB chipsets, nextgen ASIC will still own (we hope)

I know Juno's and older Cisco and ericsson so can appreciate CLI.
Good points.
Making me think.
My rant was more on the investment side.
I think some miners could use some investment/portfolio management encouragement from what I'm reading.
There's more power to BTC than they may understand.

But you adjusted my thinking on the matter.
I'm going to add a Pi/USB setup to my LAN and get a grip on the data flow.
Is there any relevant difference between CF/BFG?

(Know thy CLI)

Seems like playing with Pi is playing with Pi, might as well build a Pi retro gamer or home security system

Gotta agree with the pool suggestion.
Either you have a data center to chase the hash or you join the equivelant in a respected pool.

Then you can spend that time on learning more about the awesome bit commerce market  to be ready for whatever phase you need to be ready for because the changes have just begun.

There's also alt coins to mine and BTC conversion to/fro.
So much more than Pi rev B
Just my honest opinion
Here to collaborate not dominate

Every market has its ups/downs so I am finding some these recent mining defeatist posts kind of boring.

BTC will go up in value as the commerce options grow and the public awareness that follows.

Just the other day I was chuckling how recently black Friday is being greatly affected by Amazon.
I've been using their services for many years but the collective is just getting it now.... And when they get crypto independence I believe your position as a miner, transaction processor, alt coin trader, etc will be light years ahead of the oblivious greater collective.

One more thing.
I plan to mine for investing, not pay my immediate bills.
So I don't fret if xyz are petahash dominant. I fret if I can't get any coins.
Its the greater investments that take patience and accumulation.

Just some thoughts...

What are your thoughts /experiences mining not just BTC but other coins and moving in/out a percentage of each with obvious price fluctuations upwards?

Seems logical to mine certain alt coins and trade them to BTC during jumps.
The mathmatecal consideration would be cost to mine BTC during a period and the comparable cost for an alt coin that can be converted to BTC etc.

I plan to start mining with a test pair of S7 soon and hope nextgen 16nm releases will be made available post learning curve to really dive in.

Any experiences sharing is appreciated and valued.
BTW I'm a reasonable fella and know this is a financial risk (so is fiat money) so no need to "overly warn" me.

Regards

Got it Philip (I frequent Data Centers, network engi)

Regarding the 2 USA not 4?
Is it a network delay issue or node saturation?

tee
eye
A

If I may...

I have come to appreciate "alternative media" in 2015. From goldbug rants to conspiracy toxicity the steep learning curve (for me) has been eventful, frustrating and rewarding.

Coming (what I truly hope) full circle to my former IT Roots, crypto currency just edifies my need to invest in something I can plan and attack while wrestling new challenges and not getting screwed over. So tomorrow goodbye closet Fiat presidents and hello power chomping hash monsters. My home and children will never be the same.

Honestly I'm on a high from absorbing so many interesting web personas while ingesting the tech so this is a respectful hello from the dark and a couple of simple questions regarding my buy in.

I'm pretty sure the new rig will suffice but in your opinion is 9thash enough to munch on the scrypt the next 6mths before the next round of halfing and next release of 14/16nm chipsets, for me to get a solid foot before upgrades in mid 2016.


I plan to budget another $500+ for home rewiring but could really use experienced recommendations towards wiring (2) paired  S7 or what dedicated breaker per pair is recommended.

8-10 S7 by spring is my plan (don't tell wife). But I hope the new models are out by then and we can piggyback off this buyin set to flirt with 100terahash (new chipset) by years end.

No matter what thank you for being a community worth joining and I look forward to what lies ahead with so many ridiculous variables in the markets and world alike.

They're just not ready for this.